Dyson wants to build 3 EV models, report says

Vacuum cleaner maker Dyson aims to bring three electric cars to market, the Financial Times reported.

The first is due by 2021, the Financial Times said, quoting sources, and just a few thousand will be built as the company explores the market and establishes a supply chain.

Two models will follow and will be more conventional and designed to sell in larger numbers, the paper said. These will use Dyson's solid-state battery technology that should be able to store more energy for a longer driving range and faster charging time than lithium ion batteries, the report said.

The solid-state batteries may not be ready when the first EV goes into production, so that model might use lithium ion batteries instead, the Financial Times said.

Inventor James Dyson, who established the company, has said the project to make EVs has been almost 30 years in the making after the auto industry dismissed his ideas to clean up diesel technology.

Dyson is investing 1.12 billion euros ($1.24 billion) in battery development and as much again in car production, the Financial Times reported.

The company is looking at potential production sites in the U.K., China and Singapore, the paper said.

Toyota is among other automakers and suppliers exploring solid-state batteries. It wants to have them in its vehicles by 2025.